Mannatech's CEO resigns, firm vets step up
This article was originally published in The Tan Sheet
Executive Summary
Mannatech Inc. promotes three veteran execs to lead the multilevel marketer of nutritional and personal-care products following CEO Wayne L. Badovinus' resignation. Badovinus joined Mannatech in May 2008 but has left for "personal reasons," Coppell, Texas-based company said Dec. 3 (1"The Tan Sheet" June 9, 2008, In Brief). The three execs who will occupy the newly created "Senior Executive Office" are Chief Financial Officer Steve Fenstermacher and Chief Science Officer Rob Sinnott as co-CEOs, and Senior VP Randy Bancino as president of global business operations and expansion. Mannatech Chairman J. Stanley Frederic said Badovinus' work "lays a good foundation for this newly created management structure that will allow us to focus on the success of our loyal associates who are the future of the company.